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Beware Rabid BearsGlobal Investing Blog by RightSide Advisors 6230 Wilshire Blvd., Los Angeles, Calif. 90048 Aug. 8: Please beware of two mistakes you can make now. One is rabid bearishness...[Remember,] Wall Street wanted the Fed to hint at rate cuts and it didn't. The other is to imagine that everything is so cheap now you have to buy, buy, buy.

-- Vivian Lewis

Diplomatic Tangle for MarketsGlobal Market Commentary by Malmgren Global 1133 Connecticut Ave. NW, Washington, D.C. 20036 Aug. 8: The Bush Administration is intensifying pressure on major banks to withdraw from...financing Iranian trade and investment projects and block [certain] accounts...Iran's economy is gradually being strangled...For markets, the possibility of military action and heightened insurgent activity in the Persian Gulf region cannot be ruled out during the remainder of Bush's term in office.

-- Harald Malmgren

Get Ready for BouncesMcClellan Market Report by McClellan Financial Publications P.O. Box 39779, Lakewood, Wash. 98496 Aug. 7: The 20-week cycle bottom which was supposed to arrive in early August has done so right on schedule....Back at the March '07 bottom, we recall everyone was worried about a liquidity crisis. The world survived that one, and will survive this one, too. The cycle promises us a robust bounce up out of this low over the next few weeks, with minor bottoms due Aug. 20 to 21 and Aug. 30 serving as [speed] bumps.

-- Tom McClellan

Tech's on DeckTechnical View by BBH 140 Broadway, New York, N.Y. 10005 Aug. 6: Tech...has continued notching new relative highs during the correction, and the...trend is looking more convincing. Semiconductors continue to be one of our favorite industries.

-- Andrew Burkly

Not All Drops are EqualWeekly Markets Commentary by RiverSource Investments/Life Insurance 829 Ameriprise Financial Center, Minneapolis, Minn. 55474 Aug. 6: The decline in equity prices over the last two-plus weeks has ensnared all 10 S&P 500 sector components; the three groups with the largest losses, 11%: materials, energy, financials. Consumer-discretionary stocks [lost] 9%...[Yet] second-quarter earnings for the other sectors have been quite good.

-- David Joy

If It Happened in Japan...True Contrarian P. O. Box 1894, New York, N.Y. 10008-1894 Aug. 5: Japanese residential real-estate prices fell every year from 1990-2004, inclusive...[with] a total average nationwide decline of 64%...As [U.S.] housing prices decline, people perceive themselves to be poorer, and... spend and borrow less. This ...exerts a powerful contractionary and deflationary impact on the U.S. economy, just as in Japan. Since the stock market is a far more volatile asset sector than housing, equity prices will fluctuate sharply.

-- Steven Jon Kaplan

Seeking BalanceThe Avatar Advisor by Avatar Associates 575 Lexington Ave., New York, N.Y. 10022 August: We're pleased that insiders are starting to move to a more balanced buy/sell standing, but most of our other indicators show[ed]...way too much bullishness.

-- Larry Seibert, Ted Theodore

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